Technical Outlook September 29, 2017EURUSDThe currency pair ended its downside tendency yesterday and thwarted an upside correction. If you opened a short trade, this positions would close by a stop loss. As you know, no trend lasts forever. There is no tendency currently and we give no recommendations. There are no events on the way, that may change the market situation today.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair developed its downside correction last week according to our recommendations. We think that EUR/USD is likely to develop its downside correction in the next couple of days.
There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is unclear.
GBPUSDThe currency pair started its correction yesterday. If you had short trades, whey were closed by stop losses. There is no tendency today and we give no recommendations. As for the important events, pay attention to the US consumer spending data, which will be released during the American session.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair fluctuated according to our recommendations last week. We think that GBP/USD is likely to start a downside correction in the next couple of days.
There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.
AUDUSDThe currency pair offered an opportunity to open short trades during the American session. You had an opportunity to protect positions during the Asian session. There is a probability of another downside momentum and we advise to leave trades for a while as they are protected and you will have no loss in case if the price goes against your forecasted direction. AS for the important events today, we advise to pay attention to the US consumer spending data, which is to be released during the American session.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair tried to resume its growth last week, but USD growth was strong. We think that AUD/USD is likely develop its downside correction in the next couple of days.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to avoid trading today as the situation is unclear.
USDCHFThe currency pair continued to fluctuate without any clear tendency. It is fluctuating within a range now. We give no recommendations, as there is no trend currently. We advise to pay attention to the US consumer spending data, which is to be released during the American session.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair developed its growth last week according to our expectations. We think that USD/CHF is likely to develop this tendency in the next couple of days.
There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.
Gold and Silver Technical Outlook September 29, 2017GOLD (XAUUSD)Gold offered an opportunity to sell from 1288,000 during the American session and you had a chance to protect your trades during the Asian session. There is downside tendency currently and we advise to hold those short trades as your positions are protected. As for the important events, we advise to pay attention to consumer spending data, which is to be release during the American session.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. Gold developed its downside tendency last week according to our expectations. We think that XAU/USD is likely to develop its downside tendency in the next couple of days.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to hold short trades from 1288,000.
SILVER (XAGUSD)Silver approached the MA55 balance line in the beginning of the American session offering opportunities to sell according to our recommendations. The price declined enough to move stop losses at breakeven level. Later, stop losses triggered. There is no tendency currently and we give no recommendations.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Silver developed its downside tendency last week according to our recommendations. We think that Silver is likely to develop its decline in the next couple of days.
There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.